Great advise by our In-house AM - Let's do this and see which companies pay the best and which ones don't - here's my list of good paysEMortgageLogicEqui-traxTitanium SolutionsFranklin CreditFASInc
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I've worked with them for a couple of years: the pay isn't great but they are very nice, pay fairly promptly and do not make ridiculous demands. It is one of the easier companies/forms to deal with.
Julie Yates > Dianne ClaytonAugust 29, 2013 at 9:49am
I have worked with them before. They used to be really good, but it's changed. I put up with emailing the photos and downloading the forms and emailing them, but I had to draw the line when it took them a year to pay me. Have you looked at their form? It's not a quick one. Hope this helps.
Antionette > Dianne ClaytonAugust 29, 2013 at 9:13am
I have never heard of them either? Sounds like a new bee or a renamed bankrupted BPO company? Try to google them and see if you get any history on them.
Who is requesting rental comps now? Omg.... Fees for bpos, fees for using direct deposit, fees for using their systems, fees to add a zip code, fees to pay for your own background check, 2 day turn arounds, and less money with gas prices high...Hmmmmm... Broker...that's all... Bpo's aren't as good a business as they used to.
John Giammarco > Lisa McIntosh (Hassan)August 27, 2013 at 12:59am
I agree, the BPO model for business is becoming less and less appealing. I have become more and more likely to ignore their requests for money. If it isn't some bogus BPO training that cost $75 or the background checks for $50 dollars it is something else.
The thing that really gets me is that they request these things make it mandatory in order to get orders but they never are willing to guarantee that you will ever get any work for the cost you just laid out.
I have taken so many of the BPO training classes from companies and have paid for several background checks and then never get any work. Total BS if you ask me. The industry is BS actually if you think about it. Really how can you accurately value a property by driving by it and looking at it from the road?
Antionette > John GiammarcoAugust 27, 2013 at 5:00am
All these vendors are making a kick back from companies like "STERLING" AND LEXUS" to contact you and ask you to run the BG. If you take 2000 agents and the vendor gets $10 for each one they promoted, that individual just made a $20K extra commission and the BG company just made $80K (based of $50). Again, multiply that by the number of times they go to each vendor (which are a lot of them) but for example lets say 12, now the BG company just made roughly $100K. NOT BAD FOR EASY MONEY in just one round of 2000 agents. What about 20,000 agents or more nation wide? I recently posted that I was contacted a vendor who ask me to do a BG when I had just did one within the last month or 2 with the same company. Once they did that, it confirmed to me that this had to be the fraudulent practice going on. How does a vendor not already know in their system that they already did this with you? If it is mandatory, then a RED FLAG would show up in the profile if in fact you had not completed one. Otherwise, the agents should not be getting the orders assigned to them in the first place. The case of the Cart before the horse? Anyway, the lame excuse I got from the vendor was she did not have access to my profile... YAH RIGHT. Honestly, there should only be (1) certified BG check done through BRE that is mandatory to be used with all vendors as well as certifications for REO, Short Sales and other courses be done only through NAR. This will keep AM companies like RES.NET,EQUATOR,REO NETWORK, and others from ripping off agents on certifications with no guarantee's of business. In my opinion, anyone can pay for a certification, but that really does not mean they are going to be the perfect agent at the end. All it means is that they can read and take test. It really does not mean they will be honest and ethical agent. But if all certifications were connected to one place and they did something wrong, it can mean serious consequences if NAR would get involved and revoke licenses and certifications. That would be the solution to a lot of unethical agent practices. Good think I'm not the president of NAR because I would be setting everything straight and legal.
PS I wrote an article regarding the pro and cons of BPO work and sent it to the NAR magazine and they said it was too long. I had some pretty good warnings for those unaware of what goes on in this business. Anyone know another place I might submit this article?
Sharon Letson, Broker
Paramount Realty
Willard, MO
Antionette > Sharon LetsonAugust 27, 2013 at 9:44am
Sounds like their trying to avoid the issue. Though, I would revise it by taking out repeated words leaving in the most important issues condensing it as much as possible and resubmit it. If they come back again saying its too much, then you will know for sure they are avoiding it. You know if you are an honest and ethical agent and really want to help the consumer post it on Huffington post and sites like facebook and twitter. Get the news out their so consumers can start getting smart about their choices and how banks and the government entities are playing games. We as realtors should not be picking and choosing information to keep as a secret just for our own benefits. It starts with us being good neighbors to one another and then consumers will have a different opinion on us rather than looking at us like car salesmen just looking for a commission and then forgetting about them.
Amen to that. I just got email from RR Review stating they canceled the BPO I had tried to do with the trailer in the town on 173 and they said probably always state "this may reflect your standing negatively." I told them it better not and no remark of reimbursing me for the trouble or gas.
Replies
Quick question:
Anyone have thoughts on REO Brokerage Group? I have a request for a BPO & not familiar with this them...
I've worked with them for a couple of years: the pay isn't great but they are very nice, pay fairly promptly and do not make ridiculous demands. It is one of the easier companies/forms to deal with.
I have worked with them before. They used to be really good, but it's changed. I put up with emailing the photos and downloading the forms and emailing them, but I had to draw the line when it took them a year to pay me. Have you looked at their form? It's not a quick one. Hope this helps.
I have never heard of them either? Sounds like a new bee or a renamed bankrupted BPO company? Try to google them and see if you get any history on them.
Who is requesting rental comps now? Omg.... Fees for bpos, fees for using direct deposit, fees for using their systems, fees to add a zip code, fees to pay for your own background check, 2 day turn arounds, and less money with gas prices high...Hmmmmm... Broker...that's all... Bpo's aren't as good a business as they used to.
I agree, the BPO model for business is becoming less and less appealing. I have become more and more likely to ignore their requests for money. If it isn't some bogus BPO training that cost $75 or the background checks for $50 dollars it is something else.
The thing that really gets me is that they request these things make it mandatory in order to get orders but they never are willing to guarantee that you will ever get any work for the cost you just laid out.
I have taken so many of the BPO training classes from companies and have paid for several background checks and then never get any work. Total BS if you ask me. The industry is BS actually if you think about it. Really how can you accurately value a property by driving by it and looking at it from the road?
All these vendors are making a kick back from companies like "STERLING" AND LEXUS" to contact you and ask you to run the BG. If you take 2000 agents and the vendor gets $10 for each one they promoted, that individual just made a $20K extra commission and the BG company just made $80K (based of $50). Again, multiply that by the number of times they go to each vendor (which are a lot of them) but for example lets say 12, now the BG company just made roughly $100K. NOT BAD FOR EASY MONEY in just one round of 2000 agents. What about 20,000 agents or more nation wide? I recently posted that I was contacted a vendor who ask me to do a BG when I had just did one within the last month or 2 with the same company. Once they did that, it confirmed to me that this had to be the fraudulent practice going on. How does a vendor not already know in their system that they already did this with you? If it is mandatory, then a RED FLAG would show up in the profile if in fact you had not completed one. Otherwise, the agents should not be getting the orders assigned to them in the first place. The case of the Cart before the horse? Anyway, the lame excuse I got from the vendor was she did not have access to my profile... YAH RIGHT. Honestly, there should only be (1) certified BG check done through BRE that is mandatory to be used with all vendors as well as certifications for REO, Short Sales and other courses be done only through NAR. This will keep AM companies like RES.NET,EQUATOR,REO NETWORK, and others from ripping off agents on certifications with no guarantee's of business. In my opinion, anyone can pay for a certification, but that really does not mean they are going to be the perfect agent at the end. All it means is that they can read and take test. It really does not mean they will be honest and ethical agent. But if all certifications were connected to one place and they did something wrong, it can mean serious consequences if NAR would get involved and revoke licenses and certifications. That would be the solution to a lot of unethical agent practices. Good think I'm not the president of NAR because I would be setting everything straight and legal.
PS I wrote an article regarding the pro and cons of BPO work and sent it to the NAR magazine and they said it was too long. I had some pretty good warnings for those unaware of what goes on in this business. Anyone know another place I might submit this article?
Sharon Letson, Broker
Paramount Realty
Willard, MO
Sounds like their trying to avoid the issue. Though, I would revise it by taking out repeated words leaving in the most important issues condensing it as much as possible and resubmit it. If they come back again saying its too much, then you will know for sure they are avoiding it. You know if you are an honest and ethical agent and really want to help the consumer post it on Huffington post and sites like facebook and twitter. Get the news out their so consumers can start getting smart about their choices and how banks and the government entities are playing games. We as realtors should not be picking and choosing information to keep as a secret just for our own benefits. It starts with us being good neighbors to one another and then consumers will have a different opinion on us rather than looking at us like car salesmen just looking for a commission and then forgetting about them.
Amen to that. I just got email from RR Review stating they canceled the BPO I had tried to do with the trailer in the town on 173 and they said probably always state "this may reflect your standing negatively." I told them it better not and no remark of reimbursing me for the trouble or gas.
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